T1400 Bid Amendment 4 Extended Quote Submission Due Date 8.29.25.docx

This document is a Bid Amendment #4 issued by the New Jersey Department of the Treasury, Division of Purchase and Property for Bid Solicitation #25DPP01066 regarding the Alternate Benefit Program Service Providers procurement. The amendment extends the quote submission due date from September 10, 2025, to September 24, 2025, at 2:00 p.m. Eastern Time. The procurement seeks multiple contractors to provide comprehensive recordkeeping and administrative services for the Alternate Benefit Program (ABP) and Additional Contributions Tax-Sheltered (ACTS) Program, with a six-year contract term and potential extensions for up to three additional years.

The solicitation targets retirement plan service providers, with an emphasis on technological capabilities, participant services, and administrative flexibility. Current incumbent vendors include Corebridge Financial, Empower, and Prudential, who manage approximately $829,872,585 in plan assets across 15,550 active participants. The state requires vendors to use the lowest-cost investment share classes, credit all revenue sharing back to participants, and maintain an administrative funding fee of two basis points. The procurement encourages participation from small, woman-owned, minority-owned, veteran-owned, and disabled veteran-owned businesses, with vendors expected to provide detailed pricing across different participant balance tiers and demonstrate advanced technological platforms and robust participant education capabilities.